Barton Investment Management Cuts Stake in Air Lease Corporation $AL

Barton Investment Management lowered its holdings in shares of Air Lease Corporation (NYSE:AL) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 595,023 shares of the transportation company’s stock after selling 73,395 shares during the quarter. Air Lease comprises about 3.6% of Barton Investment Management’s investment portfolio, making the stock its 6th biggest position. Barton Investment Management’s holdings in Air Lease were worth $34,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease during the 1st quarter valued at $25,000. Brooklyn Investment Group raised its holdings in shares of Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 355 shares in the last quarter. Versant Capital Management Inc raised its holdings in Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after acquiring an additional 348 shares during the period. Geneos Wealth Management Inc. raised its holdings in Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after acquiring an additional 647 shares during the period. Finally, SVB Wealth LLC bought a new position in Air Lease in the 1st quarter worth $52,000. Institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays reiterated an “overweight” rating and issued a $67.00 target price (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.29.

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the sale, the executive vice president owned 141,316 shares of the company’s stock, valued at $8,983,458.12. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Beker sold 5,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the transaction, the executive vice president owned 13,970 shares in the company, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,000 shares of company stock worth $746,380. 6.64% of the stock is currently owned by insiders.

Air Lease Stock Performance

NYSE:AL opened at $63.61 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s 50-day moving average is $60.36 and its 200-day moving average is $55.30. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL) last posted its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million for the quarter, compared to analysts’ expectations of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Equities research analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s payout ratio is presently 10.68%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.